To The Moon

Introduction to Basic Trading Rules for Hong Kong Index Options

1.1 Regular Trading Hours

Note: Trading hours may be adjusted during public holidays. Please pay attention to platform notifications or announcements issued by the Hong Kong Exchanges and Clearing Limited (HKEX).

1.2 Contract Tenor

1. Weekly Options: Contracts for the current week and the next week are available.

2. Standard Options (Monthly Options)

Note: The exchange will ensure that expiration dates are staggered. If the expiration date of a certain week (usually Friday) coincides with the expiration date of the monthly options for that month (month-end), the exchange will not add a weekly contract for that week.

1.3 Expiration and Settlement

Exercise Style: European Options (Exercise is only allowed on the contract expiration date)

Standard Expiration Date: The second last trading day of the contract month

Weekly Expiration Date: The last trading day of the contract week

Note: If the expiration date falls on Christmas Eve, New Year's Eve or Lunar New Year's Eve, there will be no afternoon session on that day.

1.4 Contract Multiplier

1.5 Margin Requirements

Hong Kong index options trading is closely related to margin requirements. When trading, both buyers and sellers will occupy margin.

2. Frequently Asked Questions

2.1 Where to view relevant available funds/orders/positions

Hong Kong index options buying available funds/orders/positions can only be viewed after switching to the Futures module.

2.2 Can the option be exercised early or can the exercise be waived before expiry?

No. Hong Kong Index Options (both monthly and weekly) are European Options.

2.3 How are Hong Kong Index Options settled upon expiration?

Hong Kong Index Options adopt cash settlement.

2.4 Is T+0 trading supported?

T+0 trading is supported, which allows you to open and close positions for the same holding on the same trading day.

2.5 What is the validity period of an order? Can orders be placed during non-trading hours?

• Orders are only valid for the current day; unfilled orders will automatically expire upon the close of the day or evening session.

• Orders can only be placed during intraday trading hours.

Note: The day session and evening session have two separate validity periods. Unfilled Day orders for the day session will be cancelled at the close of the day session, and the same applies to the evening session.

2.6 Are the evening session and the next day's day session the same trading day?

Yes. However, unfilled Day orders for the evening session will be automatically cancelled at the close of the evening session.

2.7 Under what circumstances will forced liquidation be triggered? How can I avoid being forced to liquidate positions?

• When losses from your open positions result in excessively high account risk, Tiger may automatically close part of your positions.

• As a trader, you should monitor the level of your Available Margin at all times.

• If you anticipate a potential margin shortage in your account, please proactively close positions or deposit funds in a timely manner to ensure that your account meets the relevant margin requirements.

Friendly Reminder: This feature is being rolled out gradually. Trading may not be available in some regions. Please refer to the actual trading page for availability.